The Dollar

September 26, 1985|By Deanne Brandon

RETREAT. The dollar fell Wednesday. The downturn renewed a slide that has pushed the dollar to its lowest level since June 5, 1984. The Federal Reserve Board said its index of the value of the dollar against 10 other currencies fell 1.13 percent. The index, which is weighted for international trade, plunged 4.29 percent on Monday in its sharpest decline in 12 years, but it edged up Tuesday. Foreign-exchange markets were jolted by a surprise announcement Sunday of an agreement by the top finance officials of the United States, Britain, France, Japan and West Germany to attempt to head off a trade war by pushing the dollar lower.